Rupee At New Six-Month Low; Refiner Sells Dollars

The rupee is at a new six-month low on global dollar strength after Bernanke testimony, says a dealer. The rupee is at 55.77/78 after falling to 55.86, last closed at 55.46/47.

The USD/INR pair has a resistance at 55.89, a break of which may open the way for 56.

Dealers say a large private refiner seen selling dollar in early session.

Most emerging Asian currencies on Thursday fell as a weak China manufacturing survey increased concerns over the world’s No.2 economy, adding to pressure on regional units generated by prospects of reduced inflows if the Federal Reserve scales back its stimulus. See

Local stocks will be watched with State Bank of India and Tata Steel <TISC.NS> reporting March quarter earnings later in the day.